Keeping The Government Away From My Money

Quick question everyone. Once I finalize a deal, how do I keep my profits from getting taxed like crazy? surprised

Comments(2)

  • dgtop4th February, 2004

    Uncle sam wants in you pocket. Either hold property for 1 year (renting preferable) so that you are only taxed at 15% or roll profits for sale into 1031 exchange (buy a new property at equal or greater value)

  • Sierra144th February, 2004

    i'm hoping to get rid of the propety within a few months of buying it. can you tell me what a 1031 exchange is?

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